Legato Capital Management LLC Trims Stake in Arlo Technologies, Inc. (NYSE:ARLO)

Legato Capital Management LLC cut its position in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 14.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 104,372 shares of the company’s stock after selling 16,924 shares during the period. Legato Capital Management LLC owned approximately 0.10% of Arlo Technologies worth $1,168,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in Arlo Technologies by 234.5% in the third quarter. Barclays PLC now owns 185,281 shares of the company’s stock worth $2,244,000 after purchasing an additional 129,889 shares during the last quarter. Lord Abbett & CO. LLC lifted its stake in shares of Arlo Technologies by 26.7% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,029,209 shares of the company’s stock worth $12,463,000 after acquiring an additional 216,870 shares during the last quarter. Mutual of America Capital Management LLC lifted its stake in shares of Arlo Technologies by 18.0% during the 3rd quarter. Mutual of America Capital Management LLC now owns 716,280 shares of the company’s stock worth $8,674,000 after acquiring an additional 109,200 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Arlo Technologies during the 3rd quarter valued at $1,309,000. Finally, Swedbank AB grew its position in Arlo Technologies by 37.5% in the 3rd quarter. Swedbank AB now owns 1,100,000 shares of the company’s stock valued at $13,321,000 after acquiring an additional 300,000 shares during the last quarter. 83.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Matthew Blake Mcrae sold 316,644 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $11.54, for a total value of $3,654,071.76. Following the completion of the sale, the chief executive officer now owns 3,160,988 shares in the company, valued at approximately $36,477,801.52. The trade was a 9.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Brian Busse sold 9,007 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $11.66, for a total transaction of $105,021.62. Following the completion of the sale, the general counsel now directly owns 602,458 shares of the company’s stock, valued at $7,024,660.28. The trade was a 1.47 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 470,896 shares of company stock worth $5,433,058. 3.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ARLO. Craig Hallum decreased their target price on Arlo Technologies from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, November 8th. BWS Financial reiterated a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a report on Friday, November 8th.

Arlo Technologies Stock Down 2.1 %

Shares of NYSE:ARLO opened at $11.28 on Thursday. The business’s 50 day moving average is $11.80 and its 200 day moving average is $11.82. The stock has a market cap of $1.13 billion, a P/E ratio of -45.12 and a beta of 1.77. Arlo Technologies, Inc. has a 52-week low of $8.56 and a 52-week high of $17.64.

About Arlo Technologies

Arlo Technologies, Inc, together with its subsidiaries, provides a cloud-based platform in the Americas, Europe, the Middle East, Africa, and the Asia Pacific regions. The company offers Arlo Essential Cameras and Doorbells (2nd Generation) delivers smart home protection, including automated privacy shield, 180-degree field of view, and 2K video resolution; Arlo Home Security System, an all-in-one multi-sensor that provides access to security experts for monitoring and responding to emergency situations; Arlo Pro 5S, a wireless 2K video resolution security camera; Arlo Go 2, a camera for monitoring remote areas, large properties, construction sites, vacation homes, boat or RV slips, and hard-to-access areas; Arlo Ultra 2 provides 4K video with HDR, an ultra-wide, 180-degree field of view, auto zoom and tracking on moving objects, and color night vision; and Arlo Floodlight Camera, a wire-free floodlight camera.